Reinsurance

The following table contains a listing of direct, assumed, and ceded reinsurance amounts for premiums written, premiums earned, and loss and loss expenses incurred for the periods indicated. For more information concerning reinsurance, refer to

Note 8. “Reinsurance” in Item 8. “Financial Statements and Supplementary Data.” of our 2014 Annual Report.



	Quarter ended September 30,					Nine Months ended September 30,
($ in thousands)	2015			2014		2015			2014
Premiums written:
Direct	$	631,429		592,858		$	1,851,620		1,723,063
Assumed	6,099			5,780		17,140			19,467
Ceded	(92,503		)	(103,517	)	(273,514		)	(290,836	)
Net	$	545,025		495,121		$	1,595,246		1,451,694
Premiums earned:
Direct	$	590,716		548,734		$	1,728,865		1,630,347
Assumed	5,830			6,789		16,831			27,359
Ceded	(89,156		)	(92,884	)	(271,874		)	(274,947	)
Net	$	507,390		462,639		$	1,473,822		1,382,759
Loss and loss expense incurred:
Direct	$	306,635		304,525		$	935,529		995,581
Assumed	4,224			5,362		13,114			20,218
Ceded	(25,698		)	(38,955	)	(86,922		)	(126,526	)
Net	$	285,161		270,932		$	861,721		889,273

Ceded premiums and losses related to our participation in the NFIP, under which 100% of our flood premiums, losses, and loss expenses are ceded to the NFIP, are as follows:



Ceded to NFIP	Quarter ended September 30,					Nine Months ended September 30,
($ in thousands)	2015			2014		2015			2014
Ceded premiums written	$	(62,463	)	(69,922	)	$	(178,784	)	(193,000	)
Ceded premiums earned	(58,340		)	(60,761	)	(176,119		)	(178,260	)
Ceded loss and loss expense incurred	(15,382		)	(14,008	)	(36,315		)	(48,099	)